CIBC Reiterates a Buy Rating on Pan American Silver (PAAS)
In a report released yesterday, Cosmos Chiu from CIBC reiterated a Buy rating on Pan American Silver (PAAS), with a price target of $26.00. The company’s shares closed last Monday at $22.73, close to its 52-week high of $24.02.
According to TipRanks.com, Chiu is a 5-star analyst with an average return of 12.2% and a 53.9% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Hecla Mining Company, and Kirkland Lake Gold.
Pan American Silver has an analyst consensus of Moderate Buy, with a price target consensus of $23.15.
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Based on Pan American Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $37.66 million. In comparison, last year the company had a GAAP net loss of $63.81 million.
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Pan American Silver Corp. engages in the exploration, development, extraction, processing, refining, and reclamation of mineral properties. It owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. The company was founded by Ross J. Beaty and John J. Wright in April 1994 and is headquartered in Vancouver, Canada.